The diminished importance of the UCC contrasts with the increased significance of private rules from industry bodies--such as check-image-exchange rules from ECCHO
(Ecosystems, Climate Change and Health Omnibus) Project works to promote multi-disciplinary, multi-sectoral and multi-stakeholder projects in the fields of ecosystem health and human health as related to climate change research, both in Canada and overseas.
is a not-for-profit national clearinghouse that is owned by its member banks.
Improvements in the check system have changed the characteristics and processing requirements of checks while greatly increasing the efficiency of the check payments system and enabling huge industry savings," said David Walker, ECCHO
We are excited to be able to demonstrate our commitment to helping our members reduce payments system risk by becoming a Sponsoring Organization of ECCHO
," said Norman Robinson, AAP, CTP, President and CEO of EastPay.
provides image exchange rules for more than 1,300 institutions.
As a Sponsoring Organization, Software Earnings is authorized to offer ECCHO
image exchange rules coverage to its financial institution customers.
In preparation for image exchange, Solutran is announcing its support for the rule set defined by ECCHO
and will build its business rules in compliance with ECCHO
We offer consulting services and market NACHA compliant software for Accounts Receivable Conversion ("ARC") services via the Automated Clearing House Network ("ACH") and Federal Reserve Banking System, and Check21, COF and ECCHO
compliant software for check truncation and Day 1 and Day 2 processing for financial institutions.
It's clear that Sterling Commerce understands the implications of Check 21 extremely well," stated Phyllis Meyerson, senior vice president, ECCHO
She also has served on the board of ECCHO
(Electronic Check Clearing House Organization) and was founding chairman of the board of Payment Systems Network, now owned by SVPCo.
Because of their expertise and reach, ECCHO
is certainly the logical organization to establish these much-needed standards," said William Hymes, President of Sterling Commerce's Banking Systems Division.